Contracting Still On The Rise

Despite the doom and gloom in the British economy including what appears to be ever increasing unemployment figures it’s good to see that the number of contractor opportunities is holding up well. It does beg the question though, what makes offering a contract so appealing versus traditional employment?
The big thing for employers at the moment is the opportunity to “employ” outside of the normal legal and finincial responsibilities of employing somebody. Statutory holidays, sick pay, having somebody on your payroll you can’t get rid off once the work dries up is all taken away. Instead employers can offer a contract to suit their own terms and more importantly the work they have available, the other burdens are passed onto the contractor, all be it for a short term increase in pay. The fact that so many employers are going down this line could perhaps suggest that the burden put on employers by the UK government is still too high. The fact that unemployment figures are heading in the opposite direction would support this as well.

In short it seems that if people are prepared to burden the risk and consider contracting as an option there are still plenty of opportunities available. Contractors just have to keep in mind that it’s up to them to make sure they are working under the best possible deal they can and it’s absolutely in their best interest to make sure the risk is suitably rewarded by staying as tax efficient as possible.